Corpay (NYSE:CPAY) Releases FY 2024 Earnings Guidance

Corpay (NYSE:CPAY) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 18.900-19.100 for the period, compared to the consensus estimate of 18.960. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.0 billion. Corpay also updated its FY24 guidance to $18.90-19.10 EPS.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CPAY. Bank of America raised their price target on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets lifted their price objective on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Raymond James lowered their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $356.79.

Corpay Trading Up 5.6 %

NYSE:CPAY traded up $19.51 on Friday, hitting $366.01. 1,210,700 shares of the stock were exchanged, compared to its average volume of 486,981. The stock has a fifty day moving average of $325.93 and a 200-day moving average of $296.43. The stock has a market cap of $25.41 billion, a PE ratio of 26.11, a PEG ratio of 1.38 and a beta of 1.21. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay has a fifty-two week low of $221.37 and a fifty-two week high of $375.35.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same quarter last year, the firm posted $3.85 earnings per share. Corpay’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts expect that Corpay will post 17.96 earnings per share for the current fiscal year.

About Corpay

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.